Filing Flows › Enterprise Products Partners L.P. (EPD) › Q3 2025
Enterprise Products Partners L.P. (EPD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Enterprise Products Partners L.P. (EPD) reported revenue of $12.0B for the third quarter 2025 (Q3 2025), -13% from a year earlier and +6% from the quarter before. Operating margin was 14.0%, net earnings $1.3B (11.1% of revenue).
Enterprise Products Partners L.P., Q3 2025: revenue $12.0B (-13% year over year), operating margin 14.0%, net earnings $1.3B, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.0B | +6% | -13% |
| Operating profit | $1.7B | -6% | -5% |
| Net earnings | $1.3B | -7% | -6% |
| Operating cash flow | $1.7B | -16% | -16% |
What changed
Revenue was $12.0B in Q3 2025, down 13% year over year and up 6% from the previous quarter. Crude Oil Pipelines & Services was the largest line at 45% of revenue. NGL Pipelines & Services lost $1.4B year over year (down 28%), 78% of the total change.
Operating profit was $1.7B, a 14.0% margin (up 1.1 points year over year). Total costs fell 14% while revenue fell 13%. Net earnings were $1.3B, down 6% year over year. The effective tax rate was -1.0%.
Operating cash flow was $1.7B (down 16% year over year), 128% of net earnings. Non-cash charges added back $0.58B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.25B. Capital expenditures of $2.0B exceeded it, leaving free cash flow of −$0.22B.
Questions
What was Enterprise Products Partners L.P.'s revenue in the third quarter 2025?
Enterprise Products Partners L.P.
Was Enterprise Products Partners L.P. profitable in the third quarter 2025?
Operating profit was $1.7B (14.0% of revenue) and net earnings $1.3B.
Source: Enterprise Products Partners L.P. 10-Q on SEC EDGAR.